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EUR/USD is trading barely unchanged from yesterday's levels still gravitating towards the 1.04 level. Price is now a bit higher at 1.0445 and it seems that a correction is at hand as we approach years end. Important news are scheduled for later today that may alter current pace and direction.

The single currency broke the two-day downward slope on Wednesday amid the relatively positive data on consumer confidence in the eurozone. The euro gained 38 pips to a closing price of 1.0423. The EUR/USD remains below the moving averages, but RSI recovered and 1.0365 remained of great importance acting as key support, which now gives more confidence to the bulls.

Yesterday, the EURUSD rose with a wide range but closed in the middle of the daily range, although the currency pair managed to close above the previous day high, which suggests a bullish momentum.

The currency pair continues to trade below the 10, 50 and the 200-day moving averages that should act as dynamic resistances.

The key levels to watch are: a Fibonacci extension at 1.0666 (resistance), a daily resistance at 1.0622, the 10-day moving average at 1.0487 (resistance), a daily resistance at 1.0462 and the new multi-year low at 1.0352(support).

Boost from Wiedmann. And CPI expectation for years end. But some key bullet points remain:- ECB stands ready to use all the instruments available within its mandate- QE can be changed in size and duration if needed

The euro rose against the dollar on Thursday. By the end of the US trading EUR/USD was trading at 1.0436, gaining 0.09%. I believe that the support is now located at the level of 1.0350, Tuesday's low, and resistance is likely at the level of 1.0499 - the maximum of today's trading.

The single currency was trading slightly elevated against the US dollar during yesterday’s session and recovered some losses from earlier in the week. Although the increase was limited at 1.0498, the euro managed to add 13 pips to 1.0435. The 50-day MA acted as resistance and RSI failed to move in positive territory. Long-term attitudes remain negative targeting the support at 1.0365.

Yesterday, the EURUSD tried to rally but found enough resistance at the 10 day moving average to reverse and closed near the low of the day, in addition the currency pair managed to close within the previous day range, which suggests being slightly on the bearish side of neutral.

The currency pair continues to trade below the 10, 50 and the 200-day moving averages that should act as dynamic resistances.

The key levels to watch are: a Fibonacci extension at 1.0666 (resistance), a daily resistance at 1.0622, the 10-day moving average at 1.0476 (resistance), a daily resistance at 1.0462 and the new multi-year low at 1.0352(support).

Nothing out of the ordinary in today's session as traders and investors are having a few days in a calmer market environment before Christmas. EUR/USD is now trading at 1.0459, slightly up from yesterday's levels.

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